The goal of each business is to maximize sales while satisfying the end-user to make a profitable deal in terms of finances and trust. However, this only becomes possible when b2b and wholesale e-commerce platforms implement effective order management. This is especially true for wholesale customers, since one improperly handled shipment could have a significant impact on a large number of upcoming orders.
Order management is the process that starts its journey as soon as the business receives an order from the customer. It includes everything from exploring the product in the warehouse, packing the product safely, and delivering the order to the end customer while ensuring the payment to getting feedback from the client. Order management is the base of any business that decides the level of success.
B2B and wholesalers can fulfill more wholesale orders faster with a streamlined order management process and enhance customer satisfaction.
Simply put, receiving, processing, and completing a customer’s request is part of order management. The customer service staff, warehouse employees, accounting department, and delivery partners are just a few of the departments involved in order management.
What Is an Order Management System (OMS)?
When the b2b e-commerce industry starts hitting the peak point of its businesses, it becomes complicated for the staff to manage things manually on pen & paper and spreadsheets. A single misplaced or delayed order creates the possibility of ruining the reputation of the company. This is when OMS comes into the picture of the b2b industry; an order management system is a software that gathers and arranges all of a company’s sales orders in one place. OMS is a software that allows you to manage every aspect of your sales and customer service processes in one place. It’s like having a virtual assistant that knows all about your business and the products you sell.
The method of handling orders in B2B transactions has been undergoing some drastic changes. With the advent of the internet and mobile phones, customers are now more demanding than ever before. Order tracking software typically tracks sales, inventory fulfillment, and returns across multiple offline and online channels. With this, businesses need not log in to their selling channels. And instead, they can manage it all from one spot. For example, you are selling your product on your website along with Amazon and other e-commerce sites, so you need not open each of them to track & manage orders. You can easily do that on OMS.
It offers businesses greater control & easy management of wholesale orders from start to completion. An order management system incorporates various interconnected touchpoints and stakeholders who cooperate to ensure that customers receive the correct products at the right time and price.
Apart from this, integrating QuickBooks b2b e-commerce enables you to establish yourself as a more customer-focused brand with powerful assistance to the customer.
How is OMS helpful for B2B E-Commerce Platforms?
OMS is helpful for wholesale and b2b sellers in many ways. Here are the significant features that make it a boon for the industry;
- An order management system brings sales from every channel to one place, making management easy and fast.
- The software looks into inventory in real-time at every channel and forecasts it to prevent stockout, leading to great sales, profit, and customer satisfaction.
- The OMS streamlines the picking, packing, and shipment and directly coordinates with the prevalent shipping carrier to get the product shipped and delivered within the given time.
- Establish a central location where your team can handle returns from beginning to end and enter returned products into your warehouse inventory.
- Order tracking software gets customer satisfaction by keeping track of the multiple processes involved, from the order of the product to its delivery.
Let us take the example of Grainger, a leading b2b platform of the USA. Suppose you made an order in wholesale three days back from Grainger, and now you want to know where your order has reached; you can track it quickly just because of order tracking software.
Order management or order tracking software associates various benefits with your e-commerce b2b and whole business. These include;
- Automating Order Processing Process– The automation of processes makes it faster and saves money on human labor while minimizing human errors.
- Anytime Access – As long as a firm has internet access, it may process orders remotely at any time, thanks to the e-commerce order management solution’s 24/7 availability.
- Integrated Solution – A single, integrated system for managing orders gives businesses a comprehensive view of the intricate online sales fulfillment landscape. It protects them from order errors, unhappy customers, or financial losses brought on by common errors like insufficient inventory, incorrect billing, or unforeseen shipping problems.
Look at these factors before investing in any Order Management System
It is crucial to dig deep before you invest. Running an e-commerce store with a suitable OMS makes the business more profitable, efficient, and customer-centric. If you are choosing the one, make sure;
- It offers you the highest level of functionality
- It is easier to integrate & customize
- You are getting the required feature at a reasonable price.
- It is efficient to function with minimal errors.
- It takes orders and payments from all over the globe if your business is worldwide.
Order management & order tracking software are undoubtedly evolving the e-commerce wholesale & b2b industries and becoming a blessing to them. The integration of QuickBooks b2b eCommerce is an add-on to this.
In the modern era, consumers desire to get whatever they want at their doorstep as soon as possible. The only way to stand out in the competition is to adopt modern technologies to serve customers.